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Taiwan Glass posts higher earnings

Taiwan Glass, the Taiwan glass producer, said that the firm“s after-tax earnings per share (EPS) reached T$ 2.02 for 2000, up by
41.8% from 1999. The firm also decided to distribute a dividend of T$…

Taiwan Glass, the Taiwan glass producer, said that the firm“s after-tax earnings per share (EPS) reached T$ 2.02 for 2000, up by 41.8% from 1999. The firm also decided to distribute a dividend of T$ 0.80 per share in cash and a stock dividend of T$ 0.81 per share. Taiwan Glass reported revenue of T$ 13.06 billion in 2000, up by 24.4% from 1999. The glass giant attributed the outstanding performance to both the sharp price hike in glass fiber cloth and the reinvestment income from its mainland China plant over the past year. In 2000, Taiwan Glass registered after-tax profit of T$ 2.24 billion. The firm“s mainland plant contributed pretax profit of T$ 350 million in 2000, up by a whopping 600% from the T$ 50 million registered in 1999. This overseas plant now produces only flat glass products. Taiwan Glass expects to set up two additional plants for the manufacture of glass fiber cloth in Kunshan in Jiangsu Province during 2002. The production capacity is initially to be set at 180,000 metric tons per year. In Taiwan, the firm will also invest T$ 3.5 billion to further expand its Lukang plant in Chunghwa County in central Taiwan in 2001. This plant is estimated to produce 40,000 metric tons of glass fiber cloth per year through the proposed expansion project. Presently, Taiwan Glass also owns a fiber glass cloth plant in Taoyuan in northern Taiwan. The production capacity there reaches about 25,000 metric tons per year.

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